1. Money Matters
Financial Support Team

2. Student Finance: Key Facts
No one has to pay anything up front to come to University
Loans are available to cover Tuition Fees and Living Costs
You only start to repay your loans after you have graduated
And…
Only once you have started to earn over £21,000 per year

3. Financial Support Package
Student Finance England:
Tuition Fee Loan
Living Cost Loan
Maintenance Grant
The University of Sheffield
Bursaries + Fee Waivers
Scholarships
This is a breakdown of the funding system in 2012 (for non NHS funded students)
The bulk of your funding will come from Student Finance England: the Tuition Fee Loan, Maintenance (living costs) Loan and Maintenance Grant. In addition there may be additional grants from Student Finance England for students with children, adult dependants and disabled students.

4. How to Apply?
You can apply to Student Finance England for funding, online at:
This website also contains lots of additional information and support including an Online Support Calculator
You have to apply annually and it’s always best to apply early – applications will open in January
Tell them if your circumstances change
Sign and return your declaration
Students will apply online for funding – via
The direct.gov website will have an online support calculator which will enable students to input their university of choice, course of choice and details of household income. The calculator will then be able to give a pretty accurate indication of how much loan, grant and University bursary you will be eligible for.

5.
01/12/2018
© The University of Sheffield / Department of Marketing and Communications

6. So how do you get a Bursary from the University?
At the University of Sheffield bursaries are between £500 - £ based on household income
No need to apply – we’ll assess and pay you automatically
Additionally if you live in a economically disadvantaged postcode and your household income is less than £18,000 you get the first years fees paid for you.
If you are from a Care background, you receive £1600 and the first year free.

7. The University of Sheffield Bursary
You can check how much you will get at:
Household income
Bursary each year
First-year fee waiver
£18,000 or under
£1,400
Yes, if you have an IMD postcode.
£18,001 to £25,000
£1,100
n/a
£25,001 to £30,000
£750
£30,001 to £35,000
£600
£35,001 to £42,000
£500
Students from care
£1,600
Yes, whatever your postcode.
First-year fee waivers
If you live in an economically deprived area, we won't charge you for your first year. We use a government database called the Indices of Multiple Deprivation (IMD) to work out who gets this discount. It depends on where you live. - The Index of Multiple Deprivation (IMD) takes your postcode and works out if your area is classed as economically deprived. To do this, it looks at things like employment, housing and services in your postcode area.
Both
If you're a student leaving care, you automatically get the maximum £1,600 bursary AND the first-year fee waiver, regardless of where you live.
If your family's income is under £18,000 a year and you live in a deprived area, you can get the bursary and the fee waiver too.

8. Lets have a look at what you could get
Loan, Grant & Bursary Chart for
Repayable financial support
Free money – yours to keep
Living cost total
Assessed Household Income (£)
Living Cost Loan (£)
Living Cost Grant (£)
University Bursary
(£)
Living Cost Total (£)
Tuition Fee Loan (£)
18000
3875
3250
1400
8525
9000
25000
1100
8225
30000
4330
2341
750
7421
35000
4784
1432
600
6816
40000
5239
523
500
6262
42000
5420
160
6080
45000
5288
50000
4788
55000
4288
60000
3788

9. Loan, Grant & Bursary Chart for 2012-13 Assessed Household Income (£)
Example of Income
Loan, Grant & Bursary Chart for
Assessed Household Income (£)
Living Cost Loan (£)
Living Cost Grant (£)
University Bursary
(£)
Living Cost Total (£)
Tuition Fee Loan (£)
42000
5420
160
500
6080
9000
Total Living Cost income for 2012/13 = £6080
But this is paid in three instalments = £2000 (approx.)
This can be used as a hypothetical example to explore what students can spend there money on:

10. You have 16 weeks of living costs:
£125
Per Week
£2000 =

11. “…overall annual costs are underestimated by an average of £450.”
Budgeting
“…overall annual costs are underestimated by an average of £450.”
At this point:
Get the students into groups and hand out an A3 piece of paper or similar and ask each group to write down if they where students what they would spend their money on:
It is important that they not only write down what they would buy but also how much.
Once enough time has been elapsed go round the group for feedback

12. How you could have spent your money:
Accommodation £ 1,200 (£75 per week for 16 weeks)
Food £ (£25 per week for 16 weeks)
Books/Equipment £ @ Sheffield these are included in the tuition fee
Toiletries £ (£15 per month for 4 months)
Mobile £ (£20 per month for 4 months)
Transport £ (£1 per day for 80 days)
Societies £ (£10 per month for 4 months)
Clothing £
TOTAL £1,920
This leaves just £ 80 for ‘entertainment’ (£5 per week for 16 weeks!)
This is merely an example and the range of answers from students will vary:
It is important to highlight that many people may need to find sources of funding beyond statutory support.
What could you do to resolve this?

13. Part Time Work Opportunities
Not only will a part-time job or vacation work give you extra cash, it will also give you invaluable experience and confidence.
The Student Jobshop can help you find part time work during term time, vacations and for your a year out on placement.
The University is a regular employer of students too!
886 part time vacancies were advertised at the Jobshop this year and we have the University of Sheffield “Bank” temp database.

14. Supporting Our Scholars. Scholarships
Please highlight the need not to ignore s from our selves or the Alumni office these may contain information on how to apply for scholarships:
Funding also emerges through out the year so keep an eye out.
It is important to note that students should search out further funding from charitable bodies.

15. Finally…three things to remember
Apply for all you can
Budget realistically
Contact us if you need assistance

16. Thank you & Are there any questions?
@UoSMoneyMatters